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UPDATE 2-Financials weight on Eu stocks as “Trumpflation” wishes fade

collected by :Tod Hinery

UPDATE 2-Financials weight on Eu stocks as “Trumpflation” wishes fade. The pan-European STOXX 600 dipped 0.1 % as the indexes of financial services & banks fell 0.4 % & 0.2 % respectively, in line by a similar trend in early trading on Wall Street.
“Ten-year yields have been sliding back again; that’s going in the wrong direction for banks,” told DNB strategist Paul Harper.
However, earnings from France’s Natixis & OneSavings Bank pushed their shares up 2.3 % & 2.9 % respectively.
Analysts have turned negative on euro region bank earnings after upgrading expectations for much of the past year as sentiment got better thanks to a recovering economy, Thomson Reuters I/B/E/S information showed.
Third-quarter earnings for MSCI Europe are tracking 5.6 % development in euro terms, according to the latest Thomson Reuters data.

UPDATE 2-Financials weight on Eu stocks as “Trumpflation” wishes fade

The pan-European STOXX 600 dipped 0.1 % as the indexes of financial services & banks fell 0.4 % & 0.2 % respectively, in line by a similar trend in early trading on Wall Street.
“Ten-year yields have been sliding back again; that’s going in the wrong direction for banks,” told DNB strategist Paul Harper.
However, earnings from France’s Natixis & OneSavings Bank pushed their shares up 2.3 % & 2.9 % respectively.
Analysts have turned negative on euro region bank earnings after upgrading expectations for much of the past year as sentiment got better thanks to a recovering economy, Thomson Reuters I/B/E/S information showed.
Third-quarter earnings for MSCI Europe are tracking 5.6 % development in euro terms, according to the latest Thomson Reuters data.

 

Financials weight on Eu stocks as “Trumpflation” wishes fade

Financial shares weighed on Eu indexes on Wednesday amid doubts over unite states tax repair plans & the “Trumpflation” trade & worries over some Eu lenders’ earnings & over non-performing loans in Italy.
The pan-European STOXX 600 dipped 0.1 % as the indexes of financial services & banks fell 0.4 % & 0.2 % respectively, in line by a similar trend in early trading on Wall Street.
Shares in Creval plunged thirty % next the declaration of the share issue.
Also weighing was French bank Credit Agricole, that told weak trading had dented third-quarter profits, sending its shares drop 3.6 % at the close.
However, earnings from France’s Natixis & OneSavings Bank pushed their shares up 2.3 % & 2.9 % respectively.

 

 

 

 

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